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Brian Krzanich has stepped down as Intel CEO over a relationship with an employee

Brian Krzanich has resigned as the CEO of Intel over a “past consensual relationship with an Intel employee”, the firm announced this afternoon.

An ongoing investigation found that the former executive had violated a non-fraternisation policy applying to all managers at the company.

Robert Swan, formerly chief financial officer of Intel, was named interim CEO with immediate effect after the board accepted Krzanich’s resignation.

“The board believes strongly in Intel’s strategy and we are confident in Bob Swan’s ability to lead the company as we conduct a robust search for our next CEO,” said Intel chairman Andy Bryant.

“Bob has been instrumental to the development and execution of Intel’s strategy, and we know the company will continue to smoothly execute,” he added. “We appreciate Brian’s many contributions to Intel.”

Earlier this year, Krzanich was forced to address concerns over the security of the company’s computer chips. Researchers had discovered a number of vulnerabilities in processors made by Intel and other firms.

In an open letter to the tech industry, he pledged to put security first, vowing to publicly identify significant vulnerabilities following responsible disclosure rules.

Krzanich joined Intel in 1982 and was named CEO in 2013.